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Umm Al-Qura for Lands Sale in Mecca
Al Muqara Development and Construction Company announced the signing of an agreement to sell a plot of land in the "Masar" area of Makkah Al-Mukarramah for 183.74 million SAR, aiming to support the destination development strategy and implement a tower project in the hospitality sector. The land is located in Area Two, covering 2,750 square meters, and overlooks the boulevard. Its book value was approximately 82.68 million SAR. The proceeds from the sale will help enhance liquidity and fund current projects, with an expected positive impact on the company's financial results. There are no related parties involved in the transaction, which is part of the company’s efforts to enable development projects in "Masar."
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